SOCAR to Increase Azeri Gas Supply

State Oil Company of Azerbaijan Republic (SOCAR) is to increase gas output for 2012, first vice-president of SOCAR Khoshbakht Usifzade has said.

In an interview with Republica Daily, Mr. Usifzade said that the company would increase output to 28.28 billion cubic metres of gas in 2012, up from 25.5 billion cubic metres (bcm) last year.

Gas supply from the Azeri, Chirag and Guneshli (ACG) fields would increase to 13.1 bcm from 11.7 bcm, he said, while supply from the Shah Deniz gas field would increase from 6.7 bcm to 8 bcm.

The increases from those fields would be complemented from older SOCAR gas fields, he said, with 7.18 bcm coming from those fields.

"In the current year, the Shah Deniz field can produce 8 bcm of natural gas, field block Azeri-Chirag-Gunashli 13.1 bcm of gas, and SOCAR itself will ensure production of 7.18 bcm of gas," he said.

Proven gas reserves from Azerbaijan were 2.55 trillion cubic metres of gas in place, he told the paper, with total estimated gas reserves at 3.45 trillion cubic metres.

Oil production would mostly remain at current levels, Mr. Usifzade said, at about 45.45 billion tonnes, up slightly from 45.40 billion tonnes last year.